Thank you for your interest in selling a co-op in Westchester, NY. We have created a guide to assist you.
Selling your co-op is a big financial and emotional task, which requires lots of planning. So before you decide to put your co-op on the market, here are four questions to consider.
What is my co-op worth?
Several factors go into determining your co-op’s market value. These include the condition of the property, square footage, location, amenities, as well as recent comparable property sales. For a snapshot of your co-op’s current value, you can enter your address into a free online value estimator tool. If you know your state’s assessment rate (which is usually between 80 and 90 percent), you can estimate fair market value by dividing your tax assessed value by that assessment rate.
How can I sell at the highest price possible?
There are several simple, low-cost things you can do to boost the value of your co-op. These include eliminating clutter, washing windows and walls, and installing higher wattage bulbs to create a brighter environment. Larger projects, like renovating kitchens and bathrooms, typically yield more substantial increases in sales price. Staging your co-op, which helps paint a picture for how buyers will use their new space, can also add value.
How long will my co-op be on the market?
The time your co-op spends on the market depends on several factors, including location, how competitively your unit is priced and how aggressively it is marketed. Statistics show that if a co-op is properly priced, an offer should come in within the first 12 showings. If you want to speed up the sales process, don’t underestimate the value of staging. Research shows that well-staged co-ops can sell up to 32 percent faster than homes that aren’t staged.
How can an agent help?
A real estate agent can help with all aspects of the selling process, from pricing to marketing to handling the intricacies of closing. An agent will negotiate on your behalf to secure the best price – and quickest sale – possible. Looking for an agent who can help guide you through the selling process? Feel free to contact us!